JAKARTA. PT Shine Golden Bridge has filed a postponement of debt payment obligations (PKPU) request to the Semarang Commercial Court on the non-performing loans of the Duniatex Group, Wednesday (11/9).
The petition is registered as Case No. 22/Pdt.Sus-PKPU/2019/PN Niaga Smg at the Semarang Commercial Court.
The six Duniatex Group member entities involved are PT Delta Merlin Dunia Textile (DMDT), PT Delta Dunia Textile (DDT), PT Delta Dunia Sandang Textile (DDST), PT Delta Merlin Sandang Textile (DMST), PT Dunia Setia Sandang Asli Textile (DSSAT), and PT Perusahaan Dagang dan Perindustrian Damai (Damaitex).
"[The court] has granted the PKPU petition filed by the plaintiff against the respondent," said Shine Golden's legal counselor Endang Erniawati in the company's petition.
The Duniatex case stemmed from its failure to pay an interest of US$ 13.4 million on July 10, 2019 on syndicated loans amounting to US$ 260 million. As reported by Debtwire, the six entities involved have debts totalling Rp 18.79 trillion, consisting of Rp 2.992 trillion from DDST, Rp 5.771 trillion from DMDT, Rp 4.676 trillion from DDT, Rp 3.264 trillion from DMST, Rp 2.128 trillion from DSSAT, and Rp 97 billion from Damaitex.
The debts are sourced from 20 banks which provided bilateral loans, three syndicated loans, and bond debts. The banks include three state-owned banks and a number of other major banks. (AM/MS)